2835 Paris Ave · New Orleans, LA 70119

$215,000

3 bd · 1.5 ba · 2,240 sqft · SingleFamily public records · 20 Days on market

Built 1940 $96/sqft · 39% below area Est $354k · 39% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

AMAZING corner lot in the Fairgrounds Neighborhood needing some TLC. 4 bedrooms with 2.5 baths, OFF-STREET PARKING as well as a FENCED yard! EASY access to interstate and the PERFECT proximity to the Fairground for JAZZFEST!

Key facts

• Fenced yard
• Off-street parking
• Corner lot

Tags

• CORNER LOT
• OFF-STREET PARKING
• FENCED YARD
• EASY ACCESS TO INTERSTATE
• PROXIMITY TO FAIRGROUND

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $212k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.4% in New Orleans — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#3 in LA, #1,383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, employment D.
• Orleans Parish (urban): math 11% / reading 27% proficiency, ranked #69 of 98 in LA (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.2%/yr); 381 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,220/mo this rent would consume 50% of the median local household income ($53k/yr) (locally 3381% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $30k; list at $215k implies a 617% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,775 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 8.1

CMA / ARV

• ARV (median comp): $354,164
• List price: $215,000
• Delta: -39.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3145 Trafalgar St	0.28mi	4/2.5 (+1)	2,307 (+3%)	11mo	$568,000	$246	64
2628 Castiglione St	0.21mi	4/2.0 (+1)	2,168 (-3%)	17mo	$105,000	$48	64
1468 N White St	0.67mi	3/2.5	2,182 (-3%)	1mo	$786,900	$361	59
1614 N Dupre St	0.49mi	4/3.0 (+1)	2,230 (-0%)	8mo	$590,000	$265	59
2815 A P Tureaud Ave	0.30mi	3/3.0	2,461 (+10%)	7mo	$261,500	$106	58
1723 N Tonti St	0.55mi	3/2.0	2,020 (-10%)	2mo	$169,000	$84	54
2217 Gentilly Blvd	0.35mi	3/1.0	1,950 (-13%)	10mo	$326,000	$167	52
1743 N Dorgenois St	0.40mi	3/2.5	1,925 (-14%)	6mo	$420,000	$218	49
1989 Law St	0.47mi	3/2.5	2,004 (-10%)	10mo	$325,000	$162	48
3390 Desaix Blvd	0.60mi	4/3.5 (+1)	2,254 (+1%)	16mo	$536,775	$238	44
3711 Bruxelles St	0.59mi	4/2.0 (+1)	2,060 (-8%)	10mo	$252,000	$122	44
1861 Pleasure St	0.54mi	4/2.5 (+1)	1,912 (-15%)	13mo	$317,500	$166	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.49×
• Total profit: $-30,752
• Equity at exit: $32,057

10-year hold

• IRR: -12.5%
• Equity multiple: 0.37×
• Total profit: $-38,012
• Equity at exit: $18,589

Cash invested: $60,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,220 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$306 /mo · $3,667/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $165

Break-even live

Break-even rent $2,011

Max offer price $215,000

Occupancy floor 88%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2175 N Broad St New Orleans, LA	2.0	1.0	1500	$1,500	$1.00	16d	1	0.18mi
2130 N Broad St New Orleans, LA	2.0	1.0	1579	$1,350	$0.85	24d	1	0.19mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	44d	1	0.23mi
1823 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,450	$1.04	24d	1	0.25mi
1821 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,300	$0.93	24d	1	0.26mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	0.45mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	17d	1	0.54mi
3702 Trafalgar St New Orleans, LA	3.0	2.0	1428	$2,350	$1.65	16d	1	0.60mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.63mi
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	3d	1	0.71mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	44d	1	0.76mi
2422 Columbus St New Orleans, LA	2.0	2.0	1550	$2,500	$1.61	21d	1	0.78mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	24d	1	0.78mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	0.79mi
3024 Esplanade Ave New Orleans, LA	3.0	2.5	2300	$4,500	$1.96	44d	1	0.87mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.89mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.89mi
4111 Jumonville St New Orleans, LA	3.0	2.5	1543	$2,300	$1.49	10d	1	0.91mi
3232 Grand Rte Saint John St New Orleans, LA	3.0	3.0	2800	$5,000	$1.79	24d	1	0.95mi
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	3d	1	0.98mi
3443 Esplanade Ave New Orleans, LA	3.0	1.0–2.0	997	$2,500	$2.51	3d	30	1.00mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	1.04mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	1.05mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	24d	1	1.08mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	24d	1	1.11mi
914 N Broad St New Orleans, LA	2.0	2.0	1450	$2,200	$1.52	24d	1	1.15mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	1.15mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	3d	1	1.16mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	3d	1	1.16mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	2d	1	1.28mi
1423 N Villere St Unit A New Orleans, LA	2.0	3.0	1964	$2,500	$1.27	44d	1	1.29mi
3100 Orleans Ave New Orleans, LA	2.0	1.0	1875	$1,350	$0.72	24d	1	1.31mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	3d	1	1.33mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	1.37mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	1.38mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	16d	1	1.39mi
4727 Saint Bernard Ave New Orleans, LA	3.0	2.0	2000	$2,000	$1.00	16d	1	1.41mi
3700 Orleans Ave New Orleans, LA	1.0–3.0	1.0–2.0	1081	$2,945	$2.72	3d	48	1.47mi
1136 Frenchmen St New Orleans, LA	2.0	1.0	1800	$1,650	$0.92	24d	1	1.47mi
3718 Franklin Ave New Orleans, LA	2.0	1.0	1601	$1,800	$1.12	12d	1	1.50mi

Listing history 25 events

1. 2026-06-18
   days on market $215,000 Active 20 DOM
2. 2026-06-17
   days on market $215,000 Active 19 DOM
3. 2026-06-16
   days on market $215,000 Active 18 DOM
4. 2026-06-15
   days on market $215,000 Active 17 DOM
5. 2026-06-13
   days on market $215,000 Active 15 DOM
6. 2026-06-10
   days on market $215,000 Active 12 DOM
7. 2026-06-09
   days on market $215,000 Active 11 DOM
8. 2026-06-08
   days on market $215,000 Active 10 DOM
9. 2026-06-07
   days on market $215,000 Active 9 DOM
10. 2026-06-05
    days on market $215,000 Active 6 DOM
11. 2026-06-03
    days on market $215,000 Active 5 DOM
12. 2026-06-02
    days on market $215,000 Active 4 DOM
13. 2026-06-01
    days on market $215,000 Active 3 DOM
14. 2026-05-31
    days on market $215,000 Active 2 DOM
15. 2026-05-14
    status Pending 224-char remark

    Show marketing remark (224 chars)

    AMAZING corner lot in the Fairgrounds Neighborhood needing some TLC. 4 bedrooms with 2.5 baths, OFF-STREET PARKING as well as a FENCED yard! EASY access to interstate and the PERFECT proximity to the Fairground for JAZZFEST!

16. 2026-05-14
    historical Active Under Contract 224-char remark

    Show marketing remark (224 chars)

    AMAZING corner lot in the Fairgrounds Neighborhood needing some TLC. 4 bedrooms with 2.5 baths, OFF-STREET PARKING as well as a FENCED yard! EASY access to interstate and the PERFECT proximity to the Fairground for JAZZFEST!

17. 2026-02-19
    listed $215,000 Active 224-char remark

    Show marketing remark (224 chars)

    AMAZING corner lot in the Fairgrounds Neighborhood needing some TLC. 4 bedrooms with 2.5 baths, OFF-STREET PARKING as well as a FENCED yard! EASY access to interstate and the PERFECT proximity to the Fairground for JAZZFEST!

18. 2026-02-19
    listed $215,000 Active 224-char remark

    Show marketing remark (224 chars)

    AMAZING corner lot in the Fairgrounds Neighborhood needing some TLC. 4 bedrooms with 2.5 baths, OFF-STREET PARKING as well as a FENCED yard! EASY access to interstate and the PERFECT proximity to the Fairground for JAZZFEST!

19. 2026-01-16
    listed $215,000 Active
20. 2025-10-09
    listed $225,000 Active
21. 2025-03-06
    listed $245,000 Active
22. 2024-12-17
    price $245,000
23. 2024-12-16
    price $245,000
24. 2024-09-26
    listed $255,000 Active
25. 1992-02-07
    soldstatus $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $3,667 · $306/mo
• Projected year-2 tax: $3,667 · $306/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,641
• − Mortgage interest: −$12,043
• − Property taxes: −$3,667
• − Insurance: −$1,872
• − Repairs & maintenance: −$2,131
• − Management: −$2,131
• − Depreciation: −$6,255
• Taxable loss: −$1,458
• Est. tax savings @ 24.0%: +$350
• After-tax cash flow: $2,328/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Orleans Parish
• NCES district ID: 2201170
• Math proficiency: 11% ▼ -52.00%
• Reading proficiency: 27% ▼ -46.00%
• Median HH income: $37,011
• Composite: 15.78/100
• National rank: #9271
• State rank: #69 of 98 in LA

Livability — New Orleans

• Score: 81/100
• State rank: #3
• US rank: #1383

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime C- Employment D Housing B- Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Orleans, LA
• County: Orleans Parish · 338,817 people
• City population: 338,817
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

Population outlook (Orleans County) Hauer SSP2

• Today (2025): 513,025 people
• By 2030: 575,781 · +12.2%
• By 2040: 700,174 · +36.5%
• By 2050: 826,541 · +61.1%
• By 2075: 1,123,374 · +119.0%
• By 2100: 1,355,609 · +164.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

Political lean MEDSL · Orleans

• 2024 margin: Solid D (+67.0) · D 82.2% · R 15.2% · Other 2.7%
• 2008→2024 swing: +6.7pp toward D · 2008: 60.3pp · 2024: 67.0pp
• All cycles: 2024: D+67.0 2020: D+68.2 2016: D+66.2 2012: D+62.5 2008: D+60.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+616.7% since first listed

11 events — show timeline

• 2026-05-14 Pending — AcadianaMLS
• 2026-05-14 Contingent — GSREIN
• 2026-02-19 Listed $215,000 GSREIN
• 2026-02-19 Listed $215,000 AcadianaMLS
• 2026-01-16 Listed $215,000 AcadianaMLS
• 2025-10-09 Listed $225,000 AcadianaMLS
• 2025-03-06 Listed $245,000 AcadianaMLS
• 2024-12-17 Price Changed $245,000 AcadianaMLS
• 2024-12-16 Price Changed $245,000 GSREIN
• 2024-09-26 Listed $255,000 AcadianaMLS
• 1992-02-07 Sold (Public Records) $30,000 Public Records

Property tax history

+39.3%/yr

Latest (2026): $3,667 · +1.1% YoY. Source: county tax records.